Whether you know that your current mortgage term is coming to an end or received a letter in the mail from your bank informing you of an upcoming renewal, stop, take a breath, and do some research. Over half of homeowners instantly sign their mortgage renewal documents before learning about other options available to them. Sometimes, between mortgage renewal terms, your life has changed, and you may need your new mortgage to reflect that. Examples include:

• Your budget has increased and therefore you can increase your monthly payments against your principal mortgage.
• Your job and paycheque schedule has changed, and you need to change the frequency of your mortgage payments to accommodate this change.
• You were not happy with your previous mortgage provider and now is the time to switch to someone more aligned with your goals.
• You need to consolidate debts (refinance) and access smaller interest rates.
• You need new insurance added to your mortgage.

Before signing your new renewal letter, please call our team to learn more about finding the best mortgage product for you and your life today.